Tenet Begins Split-Adjusted NYSE Trading on October 11, 2012
DALLAS--(BUSINESS WIRE)-- Tenet Healthcare Corporation (NYS: THC) announced today the effect of a one-for-four stock split of its common stock. Tenet's common stock will begin trading on the New York Stock Exchange on a split-adjusted basis at market open on October 11, 2012. The new CUSIP number for Tenet's common stock following the effectiveness of the stock split is 88033G 407.
As previously disclosed on October 1, 2012, at the effectiveness of the stock split, every four shares of issued and outstanding Tenet common stock were exchanged for one issued and outstanding share of common stock, without any change in the par value per share, and Tenet's authorized shares of common stock were proportionately decreased from 1,050,000,000 shares to 262,500,000 shares. The stock split reduces the number of shares outstanding from approximately 418 million shares to approximately 104.5 million. No fractional shares were issued in connection with the stock split. Shareholders who would otherwise be entitled to receive a fractional share will receive an amount in cash determined on the basis of the closing price of Tenet's common stock on the New York Stock Exchange on October 10, 2012.
Tenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 49 hospitals, over 100 free-standing outpatient centers and Conifer Health Solutions, a leader in business process solutions for health care providers that serves nearly 400 hospital and health care entities nationwide. Tenet's hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.
This document contains "forward-looking statements" - that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the factors disclosed under "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended Dec. 31, 2011, our quarterly reports on Form 10-Q, periodic reports on Form 8-K and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements contained in this press release as a result of new information or future events or developments.
Tenet uses its company web site to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.
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